JPMorgan Downgrades GE to “Neutral” (GE)
JPMorgan reported on Monday that it has reduced its rating on technology company, General Electric Company (GE).
The firm has downgraded GE to “Neutral,” and has given the company a $22 price target. This price target suggests that the stock remain flat at its current price of $21.55.
Analysts view the company as having less visibility and see the stock becoming less of a safety stock.
General Electric shares were down 23 cents, or -1.06% during premarket trading Monday. The stock has increased 12% in the past year.
The Bottom Line
Shares of General Electric Company (GE) have a 3.49% yield, based on Friday’s closing price of $21.75.
General Electric Company (GE) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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